International Reserves in Mongolia
Mongolia - International ReservesActivity seemed to remain downbeat in Q3, as major trading partner China faced headwinds in the quarter. The domestic economy was likely suppressed by an increase in new daily Covid-19 cases, which peaked in the period, with associated deaths also at high levels. Moreover, available data on industrial production points to a cumulative slowdown in the quarter. However, restrictions were relatively loose, which should have propped up momentum somewhat. Moving on to Q4, despite some pandemic-related border checkpoint closures in late October, strong Chinese demand for coal amid power shortages, coupled with the recent rise in commodity prices, should have supported Mongolian coal exports. Moreover, China’s continued ban on Australian coal bodes well for exports ahead.
Mongolia - International Reserves Data
|International Reserves (USD)||1.3||1.3||3.0||3.5||4.3|
5 years of economic forecasts for more than 30 economic indicators.
Mongolia International Reserves Chart
Source: Bank of Mongolia and FocusEconomics calculations.
|Exchange Rate||2,735||-0.04 %||Jan 01|
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